2015 Financial Statements
Statement of Financial Position
Year Ended June 30, 2015
| Current Assets |
|
| Cash and Cash Equivalents |
$64,701 |
| Accounts Receivable (Net) |
$219,586 |
| Inventory at Cost |
$389,019 |
| Prepaid Expenses |
$27,513 |
| Total |
$700,819 |
| |
|
| Other Assets |
$20,966 |
| |
|
| Total Assets |
$721,785 |
| |
|
| Current Liabilities |
|
| Accounts Payable |
$15,573 |
| Accrued Vacation and Sick Pay |
$42,267 |
| Royalties and Commissions |
$99,717 |
| Unearned Income |
$140,711 |
| Line of Credit |
-$0- |
| Total Current Liabilities |
$298,268 |
| |
|
| Net Assets—Unrestricted |
$423,517 |
| |
|
| Total Liabilities and Net Assets |
$721,785 |
Statement of Activities
Year Ended June 30, 2015
| Revenues |
|
| Net Book Sales |
$1,049,394 |
| Other Publishing Income |
$22,334 |
| Member Dues |
$242,208 |
| Donation, Interest, and Other Income |
$11,009 |
| Total Revenues |
$1,324,945 |
| |
|
| Cost of Sales |
|
| Cost of Books Sold |
$202,042 |
| Title Subsidies |
$(34,000) |
| Inventory Write-Off |
$56,578 |
| Royalties and Commissions |
$101,701 |
| Total Cost of Sales |
$326,321 |
| |
|
| Gross Margin |
$998,624 |
| |
|
| Expenses |
|
| Editorial Expense |
$370,073 |
| Production Expense |
$97,675 |
| Marketing Expense |
$148,487 |
| Fulfillment Expense |
$164,491 |
| General and Administrative Expense |
$284,489 |
| Total Expenses |
$1,065,215 |
| |
|
| Total Increase (Decrease) in Net Assets |
($66,591) |
